Report: Solana's major economic indicators surpassed Ethereum for the first time in October

A report published Nov. 12 by hedge fund Syncracy Capital states that Solana is now on par with Ethereum in almost all major economic metrics, showing sustained growth over the past few months. According to the report, Solana’s Real Economic Value (REV) was 111% of Ethereum’s REV in October 2024, up from 1% a year earlier. ​​The metric, which includes transaction fees and Maximum Extractable Value (MEV) tips paid to validators, indicates the network’s economic activity. Another metric the report used to assess Solana’s growing popularity was Total Application Revenue (TAR). In October 2024, Solana’s TAR was 109% of Ethereum’s, up from 1% a year earlier. The report notes that Solana’s surge in economic activity was largely due to the Memecoin craze. (Cointelegraph)